"..the debt problem is so pervasive, there is only way one forward - inflate... They will do anything (and everything) to ensure the financial system doesn’t implode on itself... They will keep printing until the bond market takes the keys away."
Bristol Myers stock jumped in afternoon trading after the WSJ reported that activist investor and Trump advisor, Carl Icahn, has taken an undisclosed stake in Bristol-Myers Squibb. If confirmed, he would be the second big activist to pressure the company following its recent disappointment in its cancer-treatment efforts.
“You see all time new highs day after day, a trajectory with very low volatility, valuation metrics that scare you. You’re terrified when you’re in and terrified when you’re out,” said David Kotok, chief investment officer at Cumberland Advisors, in Sarasota, Fla.
"If the border adjustment mechanism is implemented as proposed we think it will cause a global depression and a major equity market decline. It is still unclear whether it will happen but at the very least we expect that US trade policy will put downward pressure on global growth. When this becomes apparent commodities will correct meaningfully and we will reinvest in inflation beneficiaries."
China sentenced a former billionaire hedge fund manager, Xu Xiang, also known as “hedge fund brother No. 1” and "China's Carl Icahn", to five and a half years in prison for stock-price manipulation, in one of the country’s most high-profile cases following the 2015 market rout.